Combat Recession with Cash Genie
Added: (Wed Nov 11 2009)
Pressbox (Press Release) -
Recession has hit the UK hard, with gross domestic product (GDP) contracting for six consecutive quarters. The latest unexpected contraction by 0.4% between July and September means the country is still in recession. Businesses are cutting costs to stay competitive, unemployment rises and people are losing disposable income to spend on luxury goods. When unexpected events occur such as the car breaking down or a high heating bills, emergency cash is needed fast. A short-term loan offers an alternative to gain a fast cash advance when these expenses are due to ensure there are no late payment penalties.
Cash Genie offers a short-term loan between £75 – £750 to allow consumers to combat the recession. It is obviously not a long-term solution to cash problems, however does offer an inflow of cash to deal with emergencies which often occur unexpectedly and in times of need. Like all loans in the short term, the APR is high. Cash Genie offer competitive interest prices to better compete within the market, however the provider’s main competitive advantage is its speed of service and responsible lending policy.
The short-term loan provider can process loan applications and have cash in customer’s accounts the same day. This is because there are no credit checks to be made on the borrowers resulting in Cash Genie electronically depositing the loan amount within 24 hours in the borrower’s bank account. Customers are able to pay off bills the same day as it arrives, purchase late birthday presents on the day or simply able to increase a bid on e-bay to be the highest bidder. The loans can be used for emergency payments, necessity shopping trips or luxury goods depending on customer needs.
The responsible lending policy Cash Genie adopts shows that the company is transparent and willing to build relationships with customers to be flexible around their needs. It is emphasised that customers should not use the short-term loan service for long term needs especially during the UK recession where it is tempting to hold on to the money. A free roll over service is available for customers to avoid debt fees and simply pay off the month interest and roll over the loan amount to the next month. Emergency cash is never cheap; customers should aim to pay it back as soon as possible.
Customer’s who are in need of a fast cash advance have a number of options:
* Take out a long-term bank loan, which has low interest charges but only loans over £1000 are offered and processing will take days rather than hours. Also a credit check is done to know you can repay the loan on time.
* Use an bank overdraft facility, which can be associated with high charges especially if it is unauthorised.
* Take out an online short-term loan with high APR but can have cash in your account the same day.
It is up to customers to compare lenders on the Internet to find a suitable offer of a loan before settling for the one ideally suited for them. Cash Genie is an alternative to bank loans and overdrafts to provide customers with a flexible service providing cash the same day. Online application is simple and processing is achieved in real time, this can be achieved here http://www.cashgenieloans.co.uk/members/application.php. The company would like to see proof of your monthly paycheque and that you are currently employed with a company. You must also be 18 years of age or above with a valid bank checking account to quality for the 1 month loan.